The Power of Community for Business
For any business in the digital age, building a community can create opportunities. From making it easier to sell your products and services to providing insight and feedback on your business, having a community can be a powerful tool.
So, why is having a community such an asset? And how can your business build their community?
Top Benefits Of Building A Community
Building a community creates an asset that exists independently
Having a community is an asset first and foremost. Whether you monetise that asset is up to you, but if the time comes to sell your company or pitch to investors, community is one of the key indicators of success and growth potential.
By building this asset, you automatically increase the value of your business.
Communities work for you
Building a community actually does a lot of work for your brand. For example, if you can grow a forum, social media group or networking group, you’ll find that a lot of questions will be answered by your own customers.
The community becomes not only an asset for the business and those who might invest, but also for people who want to buy your product or service. Having a support system and community associated with a product can be a major selling point.
Communities grow organically
Unlike paid forms of marketing, building a community slowly over time is an organic approach that doesn’t need income to start. Anyone can start building a community, whether your business has been running for 20 years or 2 months and they often create a snowball effect once they have begun.
There is nothing better for a business than organic growth, as it costs nothing.
Communities help to sell your product or service
Having a loyal community behind your brand can help encourage other customers to purchase. Word of mouth and recommendations from people we know are still key to consumer purchasing decisions, and a community that shares your business is powerful.
Having a community surrounding your brand can also increase customer loyalty, as people always like to be in good company. As the ‘hype’ for your brand grows and your community strengthens, you can expect your customer numbers to naturally increase.
It makes you more attractive to other brands
Collabs and partnerships can be a great way to reach new audiences, and building your own community shows other brands that you’re worthy of collaborating with.
Businesses are always keen to leverage other brands’ communities, so building one of your own is a great way to make a name for yourself in your industry. By collaborating with brands on social media, with competitions and knowledge sharing, you can grow your audience and invite new members into your community.
How to build a business community
Building a community is a powerful asset for your brand. But how can brands make sure they’re doing it right?
Here are some ideas to kickstart your own community:
Start a Facebook group for customers and clients
Start a LinkedIn group for customers and clients
Create a member welcome experience that invites members to a private portal of content
Send a weekly newsletter
Run marketing campaigns and competitions to introduce new people to your brand
Create email marketing campaigns that share business information and encourage engagement
Appoint a community manager who can spend time engaging with the community on social media
Set up events for your community where people can meet in person
Your business community
It’s important to remember that any business community grows organically over time—often years. So don’t give up if you don’t feel like you’re getting anywhere.
The best way to build a community is to showcase the personality of your brand and be yourself. This will naturally attract the kind of people who will want to buy your product and be part of your community.